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Adyen (ADYEY)
OTHER OTC:ADYEY
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Adyen
(OTC:ADYEY)
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Rating:69Neutral
Price Target:―
Adyen's overall stock score reflects strong financial performance and growth potential, balanced against its high valuation and mixed technical signals. The lack of recent earnings call insights adds some uncertainty. While the company's fundamentals are solid, the stock is priced for significant future growth, presenting both opportunities and risks.
Adyen (ADYEY) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$49.98B
Dividend YieldN/A
Average Volume (3M)26.54K
Price to Earnings (P/E)45.7
Beta (1Y)1.38
Revenue Growth19.41%
EPS Growth20.23%
CountryUS
Employees4,345
SectorTechnology
Sector Strength88
IndustrySoftware - Infrastructure
Share Statistics
EPS (TTM)0.18
Shares Outstanding3,150,814,700
10 Day Avg. Volume0
30 Day Avg. Volume26,539
Financial Highlights & Ratios
PEG RatioN/A
Price to Book (P/B)N/A
Price to Sales (P/S)N/A
P/FCF RatioN/A
Enterprise Value/Market Cap0.87
Enterprise Value/Revenue19.48
Enterprise Value/Gross Profit21.81
Enterprise Value/Ebitda31.93
Forecast
1Y Price Target
$20.30Price Target Upside28.32% Upside
Rating ConsensusHold
Number of Analyst Covering1
Adyen Business Overview & Revenue Model
Company DescriptionAdyen N.V. operates a payments platform in Europe, the Middle East, Africa, North America, the Asia Pacific, Latin America. The company's platform integrates payments stack that include gateway, risk management, processing, issuing, acquiring, and settlement services. It offers a back-end infrastructure for authorizing payments across merchants' sales channels, as well as online, mobile, in-store, and APIs; and data insights. The company's platform services a range of merchants across various verticals, connecting them directly to Visa, Mastercard, and other payment methods. Adyen N.V. was incorporated in 2006 and is headquartered in Amsterdam, the Netherlands.
How the Company Makes MoneyAdyen makes money primarily through transaction fees charged to merchants for processing payments across various channels. The company offers competitive pricing models, including a fixed fee and a percentage of the transaction value. In addition to transaction fees, Adyen generates revenue from value-added services such as fraud prevention, data analytics, and subscription-based access to its platform. Key partnerships with global enterprises and financial institutions bolster its earnings by expanding its reach and integrating its services into broader business ecosystems. As a result, Adyen's revenue streams are diversified across different industries and geographies, contributing to its financial stability and growth.
Adyen Earnings Call Summary
Earnings Call Date:Aug 14, 2025
(Q2-2025)
| % Change Since: |
Next Earnings Date:Feb 11, 2026
Earnings Call Sentiment Positive
The earnings call reflects a positive outlook with strong revenue and EBITDA growth, driven by Unified Commerce and Platforms segments. However, challenges such as currency impacts and tariff issues in APAC affect certain growth projections.Q2-2025 Updates
Positive Updates
Strong Net Revenue Growth
Net revenues grew to EUR 1.1 billion, showing a 21% growth on a constant currency basis.
EBITDA Growth and Margin Expansion
EBITDA grew 28% with margins reaching 50%, demonstrating operating leverage.
Unified Commerce Expansion
Unified Commerce grew net revenues by 31%, driven by retail, food & beverage, hospitality, and entertainment verticals.
Platforms Segment Growth
Platforms experienced a 55% growth, with 32 platforms processing over EUR 1 billion annually.
Successful Product Innovation
Products like Intelligent Payment Routing and Adyen Uplift have seen high adoption and success.
Negative Updates
Impact of Currency Fluctuations
Strong euro and weak dollar impacted results, particularly affecting APAC merchants trading into the U.S.
Growth Challenges in Customer Base
The growth of the customer base was lower than expected, particularly affecting the market volume growth.
APAC to U.S. Tariff Impact
A subset of APAC merchants selling into the U.S. affected growth, leading to a 2% reduction in expected revenue growth.
Company Guidance
In the H1 2025 earnings call, Adyen provided insights into its financial performance and strategic priorities. The company reported net revenue growth of around EUR 1.1 billion, reflecting a 21% increase on a constant currency basis, with EMEA noted as the fastest-growing region at 21%. Despite macroeconomic challenges, such as the strong euro impacting merchants in APAC trading into the U.S., Adyen maintained an EBITDA growth of 28%, achieving a 50% EBITDA margin. The call highlighted Adyen's focus on increasing the share of wallet with existing customers, winning new customer logos, and investing in innovation. Significant product developments, like Intelligent Payment Routing and Adyen Uplift, have been well-received, with Uplift's Protect module being adopted by two-thirds of new customers in the first half. Looking ahead, Adyen expects similar growth in the second half, driven by expanding share of wallet and new customer wins, despite some ongoing impacts from tariffs and macroeconomic conditions.Adyen Financial Statement Overview
Summary
Adyen's financial performance is robust, with strong income growth and profitability. Revenue increased by 82% from 2019 to 2023, and profit margins are high. The balance sheet is stable with low leverage, and cash flow generation is efficient, supporting further growth.Income Statement
Adyen has demonstrated strong revenue growth, with a revenue increase of 82% from 2019 to 2023. The gross profit margin is robust, improving from 18.7% in 2019 to 61.9% in 2023. Net profit margins have also strengthened, indicating high profitability. EBIT and EBITDA margins are solid, at 61.2% and 63.5% respectively in 2023. Overall, Adyen's income statement reflects a trajectory of strong growth and profitability.85
Very Positive
Balance Sheet
Adyen maintains a strong balance sheet with an impressive equity ratio of 32.9% in 2023, showing sound financial stability. The company has low leverage, with a debt-to-equity ratio of 0.07, indicating minimal reliance on debt. Return on equity is strong at 22.2%, showcasing effective use of shareholder funds. Adyen's balance sheet is characterized by stability and low financial risk.80
Positive
Cash Flow
Adyen's cash flow statement shows healthy cash generation, with a consistent increase in free cash flow, growing by 81% from 2019 to 2023. The operating cash flow to net income ratio of 2.68 in 2023 suggests efficient cash earnings relative to accounting profit. The free cash flow to net income ratio is also robust at 2.58, indicating strong cash profitability. Overall, Adyen's cash flow is stable and supportive of its operational needs.78
Positive
| Breakdown | TTM | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 | Dec 2019 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 2.23B | 1.86B | 1.33B | 1.00B | 684.20M | 534.30M |
| Gross Profit | 1.99B | 1.63B | 948.92M | 759.80M | 503.63M | 411.33M |
| EBITDA | 1.36B | 1.03B | 755.81M | 653.29M | 414.33M | 325.11M |
| Net Income | 925.16M | 698.32M | 564.14M | 469.72M | 261.02M | 204.04M |
Balance Sheet | ||||||
| Total Assets | 11.43B | 9.57B | 7.62B | 5.78B | 4.16B | 2.61B |
| Cash, Cash Equivalents and Short-Term Investments | 9.88B | 8.31B | 6.52B | 4.62B | 2.75B | 1.76B |
| Total Debt | 228.26M | 223.06M | 203.07M | 142.96M | 131.49M | 61.69M |
| Total Liabilities | 7.19B | 6.42B | 5.20B | 3.97B | 2.94B | 1.69B |
| Stockholders Equity | 4.23B | 3.15B | 2.41B | 1.81B | 1.22B | 918.33M |
Cash Flow | ||||||
| Free Cash Flow | 1.60B | 1.80B | 1.93B | 1.77B | 999.55M | 514.27M |
| Operating Cash Flow | 1.70B | 1.87B | 2.02B | 1.82B | 1.02B | 529.46M |
| Investing Cash Flow | -118.62M | -69.74M | -87.69M | -42.13M | -22.16M | -22.76M |
| Financing Cash Flow | 70.60M | -20.61M | -12.22M | 96.24M | 3.39M | 9.36M |
Adyen Technical Analysis
Negative
15.82
Price Trends
16.84
Negative
17.64
Negative
16.91
Negative
Market Momentum
-0.21
Negative
39.75
Neutral
52.57
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For ADYEY, the sentiment is Negative. The current price of 15.82 is below the 20-day moving average (MA) of 16.15, below the 50-day MA of 16.84, and below the 200-day MA of 16.91, indicating a bearish trend. The MACD of -0.21 indicates Negative momentum. The RSI at 39.75 is Neutral, neither overbought nor oversold. The STOCH value of 52.57 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for ADYEY.
Adyen Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
81 Outperform | $510.88B | 38.12 | 172.54% | 0.52% | 14.55% | 13.25% | |
79 Outperform | $64.30B | 14.41 | 23.16% | ― | 4.05% | 13.85% | |
78 Outperform | $649.98B | 33.30 | 52.33% | 0.70% | 11.38% | 7.43% | |
76 Outperform | $20.46B | 14.75 | 6.33% | 1.19% | -4.17% | 4.76% | |
69 Neutral | $49.98B | 45.73 | 23.25% | ― | 19.41% | 20.23% | |
67 Neutral | $44.91B | 15.76 | 13.35% | ― | 1.41% | 262.31% | |
61 Neutral | $37.18B | 12.37 | -10.20% | 1.83% | 8.50% | -7.62% |
* Technology Sector Average
ADYEY
Adyen
15.82
0.17
1.09%
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Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.